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Survey of Accounting (Accounting I)
8th Edition
ISBN: 9781305961883
Author: Carl Warren
Publisher: Cengage Learning
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Question
Balance required in allowance for expected credit losses account

Transcribed Image Text:Outstanding
Balance
Percentage Estimated
to be Uncollectible
0 30 days outstanding
$158,600
0.5%
-
31 60 days outstanding
65,000
2.5%
-
61 90 days outstanding
41,000
4.0%
91 120 days outstanding
18,200
6.5%
Over 120 days outstanding
4,100
10.0%
Expert Solution
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